Dwindling ruble deposit rates: Partial increases observed.
Let's dive into the latest changes in deposit rates for some popular Belarusian banks. We're talking about Tseper Bank, Parietbank, Belagroprombank, and Belgazprombank.
Tseper Bank has made a move, increasing the annual interest rate on the Belarusian Ruble deposit by 1.29 percentage points to 15.29% for a term of 13 months.
While Parietbank has taken the opposite direction, reducing interest rates on two of its deposits in the national currency. The "Without Withdrawal Online" deposit (13 and 15 months terms) decreased by 0.31 p.p. and 0.71 p.p. respectively, settling at 15.29% per annum. Similarly, the "Stable Income" deposit (13 and 15 months terms) saw a decrease of 0.21 p.p. and 0.71 p.p., also ending at 15.29% per annum.
For Belagroprombank, the main interest rate on the " Profit Plus" ruble deposit rose by 1.7 percentage points to 14.2% per annum, while the promotional rate ( valid for the first 95 days) dropped by 0.8 percentage points to 15.2% per annum. Furthermore, interest rates on two other ruble deposits increased as well.
In the case of Belgazprombank, the interest rates on the "Without Withdrawal - Profitable" and "Without Withdrawal - Profitable Plus" ruble deposits decreased by 0.71 percentage points, settling at 15.29% per annum for a term of 18 months.
By the way, consumer loans, auto loans, business loans, mortgage loans, deposits, loans, business accounts, credit cards, debit cards, leasing services for new cars, leasing services for used cars, and leasing services for business cars are all part of the game when it comes to banking.
Disclaimer: This article provides information on the updates to bank product conditions, valid on the day of its publication.
Now, when it comes to specific interest rates for consumer loans, auto loans, business loans, mortgage loans, or deposits for each Belarusian bank, there's no officially consolidated data available. However, the National Bank of the Republic of Belarus's refinancing rate, which currently stands at 9.75%, has an impact on interest rates for retail and corporate banking products in Belarus. Individual bank products, such as consumer loans, mortgages, and deposits, typically have rates that are either slightly above or below this benchmark, depending on the product type, borrower risk, and the bank’s market positioning.
For the latest, precise rates for each specific product and bank, it's recommended to visit their official websites or get in touch with the respective institutions directly. Keep in mind that rates may vary significantly between banks and product types and may be affected by inflation trends and economic conditions.
Enjoy your banking journey, folks!
- Parietbank has reduced the interest rates on its "Without Withdrawal Online" and "Stable Income" deposits in Belarusian Rubles, contrary to the trend observed in some other banks.
- While Tseper Bank has increased the annual interest rate on its Belarusian Ruble deposit, the rate offered by Parietbank now remains constant at 15.29% per annum.
- The decrease in interest rates by Parietbank may impact the stability of personal-finance and business-finance accounts that are held with the bank.
- As Parietbank has reduced deposit rates, potential investors might consider alternative finance options within Belarus to achieve increased returns on their investments.
